Global Market News

European Bourses Close Largely Higher Amid Economic Data


Last updated: 04/13/2021 12:29:19

12:29 PM EDT, 04/13/2021 (MT Newswires) -- European stocks ended broadly higher Tuesday amid economic data from the continent and as the US inflation rate rose more than anticipated in March.

The European STOXX 600 and the German Dax were up 0.1% and the French CAC 40 rose 0.4%, while the Swiss Market Index finished 0.5% lower. The FTSE 100 was flat.

The UK government has reached its vaccination target ahead of schedule and has offered the dose to all adults over 50 and health and social care workers. The country now plans to offer the shot to all adults by the end of July.

The British economy returned to modest growth in February, rising 0.4% after shrinking by a revised 2.2% in January, the Office for National Statistics said. The rise came as output in the production and construction sectors rose, but the expansion remained below pre-pandemic levels. The reading also missed the 0.6% growth estimate.

Moving to the rest of Europe, the sentiment concerning the economic development of the eurozone dropped 7.7 points to 66.3 in April, the lowest since January, according to data released by ZEW. Meanwhile, the current situation indicator improved 4.3 points to -65.5 in April.

In the latest on COVID-19 vaccines in Europe, Johnson & Johnson (JNJ.F) said it is delaying the rollout of its COVID-19 vaccine in the continent after US regulators recommended temporarily halting administration of the vaccine amid rare reports of blood clots that developed in a handful of recipients.

South Africa will hold a meeting to discuss the US decision to suspend the use of Johnson & Johnson's COVID-19 vaccine, Bloomberg reported.

In corporate news, Just Eat Takeaway (JET.L, TKWY.AS) was up 6.7% in Amsterdam after the company said that its orders in the first quarter of 2021 swelled for the fourth successive month by 79% year over year to 200 million thanks to a 695% order growth rate in the UK delivery network. The online food ordering company's gross merchandise value surged 89% to 4.5 billion euros ($5.35 billion) in the quarter.
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